Summary
ARSI has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €79,006 and a net result of €398. Equity is growing by ~11.6% per year across the filed fiscal years. Its solvency ranks better than 29% of 4579 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 28-11-2025, 28 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
8 d early
2023
on the day
2022
on the day
2021
5 d late
2020
2 d late
2019
20 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 43% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€79,006▼ 9.6%
2024 · €87,441
Total assets
€375,852▲ 10.1%
2024 · €341,233
Net result
€398▼ 95.5%
2024 · €8,860
Working capital
-€78,948▼ 67.1%
2024 · -€47,248
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€27,117▲ 32.1%€22,420▼ 17.3%€22,292▼ 0.6%€18,320▼ 17.8%€8,732▼ 52.3%
Net result€11,645within the sector's middle half▲ 44.3%€10,919within the sector's middle half▼ 6.2%€11,193within the sector's middle half▲ 2.5%€8,860within the sector's middle half▼ 20.8%€398within the sector's middle half▼ 95.5%
Equity€63,169within the sector's middle half▲ 20.7%€73,288within the sector's middle half▲ 16.0%€83,681within the sector's middle half▲ 14.2%€87,441within the sector's middle half▲ 4.5%€79,006within the sector's middle half▼ 9.6%
Total assets€391,169above the sector's middle half▼ 4.0%€374,861above the sector's middle half▼ 4.2%€365,703above the sector's middle half▼ 2.4%€341,233above the sector's middle half▼ 6.7%€375,852above the sector's middle half▲ 10.1%
Debt€328,000▼ 7.7%€301,574▼ 8.1%€282,022▼ 6.5%€253,791▼ 10.0%€296,847▲ 17.0%
Working capital-€42,312below the sector's middle half▲ 1.6%-€45,581below the sector's middle half▼ 7.7%-€47,089below the sector's middle half▼ 3.3%-€47,248below the sector's middle half▼ 0.3%-€78,948below the sector's middle half▼ 67.1%
Solvency16.1%below the sector's middle half▲ 3.3pp19.6%within the sector's middle half▲ 3.4pp22.9%within the sector's middle half▲ 3.3pp25.6%within the sector's middle half▲ 2.7pp21.0%within the sector's middle half▼ 4.6pp
Current ratio0.20below the sector's middle half▲ 0.020.19below the sector's middle half=0.29below the sector's middle half▲ 0.090.20below the sector's middle half▼ 0.090.18below the sector's middle half▼ 0.01
Return on assets (ROA)3.0%within the sector's middle half▲ 1.0pp2.9%within the sector's middle half▼ 0.1pp3.1%within the sector's middle half▲ 0.1pp2.6%within the sector's middle half▼ 0.5pp0.1%below the sector's middle half▼ 2.5pp
Staff (FTE)0.2=0.90.1▼ 88.9%
above
within
below
the middle half (P25 to P75) of NACE 81, Services to buildings and landscape activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 52% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €375,852
Fixed assets
€358,165 ▲ 8.7%
Current assets
€17,687 ▲ 52.2%
Equity and liabilities €375,852
Equity
€79,006 ▼ 9.6%
Debt
€296,847 ▲ 17.0%
Debt's share of the balance-sheet total rises from 74.4% to 79.0%. Equity is lower and debt is higher.
Key figures and ratios
ROE
0.5%▼
2024 · 10.1%
Debt ≤ 1 year
€96,635▲
2024 · €58,865
Debt > 1 year
€200,212▲
2024 · €194,926
Income taxes
€471▼
2024 · €3,813
Staff costs
-€5▼
2024 · €2,219
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €14,053 | €14,394 | €2,219 | -€5 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,377 | €17,448 | €17,168 | €17,168 | €25,106 | ▲ 46.2% |
| Other operating charges640/8 | - | €2,996 | €3,057 | €3,416 | €2,716 | ▼ 20.5% |
| Gross operating margin9900 | €59,835 | €56,917 | €56,911 | €41,123 | €36,549 | ▼ 11.1% |
| Operating profit (loss)9901 | €27,117 | €22,420 | €22,292 | €18,320 | €8,732 | ▼ 52.3% |
| Financial income75/76B | - | €0 | €0 | €0 | €1 | - |
| Recurring financial income75 | - | €0 | €0 | €0 | €1 | - |
| Financial charges65/66B | - | €6,757 | €6,237 | €5,648 | €7,864 | ▲ 39.2% |
| Recurring financial charges65 | €10,710 | €6,757 | €6,237 | €5,648 | €7,864 | ▲ 39.2% |
| Profit (loss) for the period before taxes9903 | €16,407 | €15,662 | €16,055 | €12,672 | €868 | ▼ 93.1% |
| Income taxes67/77 | €4,762 | €4,743 | €4,861 | €3,813 | €471 | ▼ 87.7% |
| Profit (loss) for the period9904 | €11,645 | €10,919 | €11,193 | €8,860 | €398 | ▼ 95.5% |
| Profit (loss) for the period to be appropriated9905 | €11,645 | €10,919 | €11,193 | €8,860 | €398 | ▼ 95.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €391,169 | €374,861 | €365,703 | €341,233 | €375,852 | ▲ 10.1% |
| Fixed assets21/28 | €380,791 | €363,951 | €346,783 | €329,615 | €358,165 | ▲ 8.7% |
| Tangible fixed assets22/27 | €191,971 | €175,131 | €157,963 | €140,795 | €169,344 | ▲ 20.3% |
| Land and buildings22 | - | €174,594 | €157,628 | €140,663 | €123,975 | ▼ 11.9% |
| Plant, machinery and equipment23 | - | - | - | - | €1,918 | - |
| Furniture and vehicles24 | - | €537 | €334 | €132 | €43,452 | ▲ 32,916% |
| Financial fixed assets28 | €188,820 | €188,820 | €188,820 | €188,820 | €188,820 | = |
| Current assets29/58 | €10,378 | €10,910 | €18,921 | €11,618 | €17,687 | ▲ 52.2% |
| Amounts receivable within one year40/41 | - | - | €7,744 | €8,311 | €10,822 | ▲ 30.2% |
| Trade receivables40 | - | - | €7,744 | €7,744 | €7,793 | ▲ 0.6% |
| Other amounts receivable41 | - | - | - | €567 | €3,029 | ▲ 434% |
| Current investments50/53 | - | - | €1,980 | €1,980 | €3,075 | ▲ 55.3% |
| Cash at bank and in hand54/58 | €10,305 | €10,837 | €9,123 | €1,326 | €3,717 | ▲ 180% |
| Deferred charges and accrued income490/1 | - | €73 | €73 | €0 | €73 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €391,169 | €374,861 | €365,703 | €341,233 | €375,852 | ▲ 10.1% |
| Equity10/15 | €63,169 | €73,288 | €83,681 | €87,441 | €79,006 | ▼ 9.6% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €44,577 | €54,696 | €65,089 | €68,849 | €60,414 | ▼ 12.3% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | €0 | - | - |
| Distributable reserves133 | - | €52,837 | €63,230 | €68,849 | €60,414 | ▼ 12.3% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €328,000 | €301,574 | €282,022 | €253,791 | €296,847 | ▲ 17.0% |
| Amounts payable after more than one year17 | €275,311 | €245,082 | €216,013 | €194,926 | €200,212 | ▲ 2.7% |
| Financial debts170/4 | - | €245,082 | €216,013 | €194,926 | €200,212 | ▲ 2.7% |
| Amounts payable within one year42/48 | €52,690 | €56,492 | €66,009 | €58,865 | €96,635 | ▲ 64.2% |
| Current portion of amounts payable after more than one year42 | - | €29,170 | €29,069 | €21,697 | €29,151 | ▲ 34.4% |
| Trade debts44 | €1,689 | €1,532 | €2,303 | €3,372 | €1,314 | ▼ 61.0% |
| Suppliers440/4 | - | €1,532 | €2,303 | €3,372 | €1,314 | ▼ 61.0% |
| Taxes, remuneration and social security45 | - | €8,910 | €12,248 | €2,838 | €2,202 | ▼ 22.4% |
| Taxes450/3 | - | €6,778 | €8,339 | €2,838 | €2,202 | ▼ 22.4% |
| Remuneration and social security454/9 | - | €2,133 | €3,909 | €0 | - | - |
| Other amounts payable47/48 | - | €16,880 | €22,390 | €30,958 | €63,968 | ▲ 107% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,645 | €10,919 | €11,193 | €8,860 | €398 | ▼ 95.5% |
| + Depreciation and write-downs630 | €17,377 | €17,448 | €17,168 | €17,168 | €25,106 | ▲ 46.2% |
| Operating cash flow (approximation) | €29,022 | €28,367 | €28,361 | €26,028 | €25,504 | ▼ 2.0% |
| Investment in fixed assets (approximation) | - | -€608 | €0 | €0 | -€53,656 | - |
| Change in cash | - | €532 | -€1,714 | -€7,797 | €2,391 | ▲ 131% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
31-03
Financial
Weakest financial yearnet €398 ▼95.5%
Net result drops to €398, the lowest in the series.
2024
23-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
05-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
31-03
Financial
Highest result since 2019net €11,645 ▲44.3%
Operating result €27,117, net result €11,645, both a record.
2020
02-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2019
11-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Leuven · 1 establishment unit since 2002
Ground area
1,325 m²
Building footprint
1,117 m²
Volume, LiDAR
19,140 m³
2 parcels, Brussels, Flanders · tallest building 23.5 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Vlierwijk 7, 1000 Brussel
since 20022.113.757.286
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1163/00F000 | Brussels | 1,209 m² | 1 · 991 m² | 23.5 m · 6 fl. |
| 24514A0139/00E013 | Flanders | 116 m² | 1 · 126 m² | 12.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-03-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.96%
According to the annual accounts to 31-03-2025 of ARSI and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 1,279 companies in sector 81100 we hold annual accounts for 679. 415 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-01-1998
Fiscal year end31-03
Activities, NACEBEL 2025
81100Combined facilities support activities
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462272702
Also
9925:BE0462272702
Registered
22-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.